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Xero has set its emission reduction targets to 2030—taking the next step in its journey toward net-zero* emissions by 2050. Building on its existing carbon reduction program, called "Net Zero @ Xero," the company has set near term targets to reduce Scope 1, 2 and 3 emissions that align with the recommendations of the Science-Based Targets initiative (SBTi).
These targets support the Paris Agreement goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels. Xero has set the following targets:
- 42% reduction in Scope 1 and 2 emissions from FY20 by FY30
- 17% reduction in Scope 3 emissions from FY20 by FY30
- Net-zero* emissions no later than FY50
Xero will work toward achieving these targets by focusing on the areas of increased renewable energy uptake, being more strategic about business travel, and switching to more sustainable catering wherever possible.
Xero CEO Steve Vamos says the climate crisis is a global effort. "Every business has a role to play in supporting the transition to a net-zero economy. We're proud to be on a carbon reduction journey, and setting these targets provides a clear direction for us to reduce our greenhouse gas emissions, while building on our current initiatives. The targets we are committing to have been designed with Xeroʼs growth ambitions in mind, while still enabling us to make a concerted effort to reduce our emissions.”
These targets are part of a roadmap that Xero has developed in line with the Task Force for Climate-related Financial Disclosures (TCFD) framework, to support delivery of Xeroʼs climate strategy.
In line with this roadmap, Xero aims to report its performance against these targets in the financial year ending 31 March 2023 (FY23).
Xero has offset 100 percent of its carbon emissions since FY19, and has been certified carbon neutral by the Australian Governmentʼs Climate Active program since FY20, and is committed to doing so each year in the future.
For more information about Xeroʼs approach to sustainability, including the "Net Zero @ Xero" program, CLICK HERE.